Denver area homes took longer to sell in August, so buyers may not have felt so frenzied. But they’re still feeling the pressure of high prices.
In its latest market report, the Denver Metro Association of Realtors put the median price of a single-family home last month at $459,900, down slightly over July but up 4.5 percent over August of 2018.
That home was spending 32 days on the market, compared to 24 last year.
“In 2019, homebuyers and sellers are not having the same experience their neighbors did last year,” Jill Schafer, who chairs the realtor group’s market trends committee, said in a statement accompanying the report. “In the first half of 2018, home sellers were taking offers over the weekend and selecting the best one in the stack on Monday. This year, sellers are making price adjustments as they try and find the right price point to entice buyers to make an offer.”
Though they might not be selling as quickly, sellers “are still getting more money than they would have last year,” Schafer said.